Corebridge Financial, Inc. (NYSE:CRBG) Receives $37.70 Average Price Target from Analysts

Corebridge Financial, Inc. (NYSE:CRBG) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.70.

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Barclays dropped their price target on shares of Corebridge Financial from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Keefe, Bruyette & Woods decreased their price objective on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 9th. UBS Group lowered their price objective on Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Mizuho initiated coverage on Corebridge Financial in a research report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 target price for the company.

Hedge Funds Weigh In On Corebridge Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRBG. Farther Finance Advisors LLC raised its stake in shares of Corebridge Financial by 31.4% in the fourth quarter. Farther Finance Advisors LLC now owns 6,022 shares of the company’s stock valued at $182,000 after acquiring an additional 1,440 shares during the last quarter. Bingham Private Wealth LLC acquired a new stake in Corebridge Financial during the 4th quarter valued at $385,000. Assetmark Inc. raised its position in Corebridge Financial by 35.0% in the 4th quarter. Assetmark Inc. now owns 1,877 shares of the company’s stock valued at $57,000 after purchasing an additional 487 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at $801,000. Finally, Yousif Capital Management LLC increased its stake in shares of Corebridge Financial by 873.3% in the fourth quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock valued at $2,591,000 after buying an additional 79,018 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Stock Down 1.6%

CRBG stock opened at $30.07 on Thursday. Corebridge Financial has a twelve month low of $23.69 and a twelve month high of $36.57. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.65 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. The business’s 50-day simple moving average is $30.17 and its 200 day simple moving average is $32.10.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.12). The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $4.85 billion. Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.Corebridge Financial’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, research analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. Corebridge Financial’s dividend payout ratio (DPR) is presently 57.14%.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.